This Dow Stock (and Soon-to-Be Dividend King) Recently Hit a 52-Week Low.
Here’s the Case for Buying It Anyway
Stepping into a falling stock is never entirely comfortable. Even if it’s a blue chip name, you can never really know until later precisely when it reached the bottom of its trough. Nevertheless, for long-term, high-quality prospects, the time to buy is when they’re on sale.
With that as the backdrop, discount-minded income investors looking for a new holding might want to consider adding fast-food restaurant stock and Dow component McDonald’s (NYSE: MCD) after the run-in it had with a new 52-week low last month. Finally forced to fix what’s broken The burger giant has obviously been struggling all year. We were reminded why earlier this month, when CEO Chris Kempczinski acknowledged that the “constrained consumer environment” had taken a toll on traffic, resulting in disappointing systemwide same-store sales growth of only 1.3% and domestic same-store sales growth of only 0.8%.